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Moody's withdraws ratings of SEB's German unit

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Moody's withdraws ratings of SEB's German unit

Moody's on May 23 withdrew DSK Hyp AG's Aa2/P-1 long- and short-term bank deposit ratings, and Aa2/P-1 long- and short-term counterparty risk ratings.

The ratings agency also withdrew the Germany-based company's Aa2(cr)/P-1(cr) long- and short-term counterparty risk assessments, and "a3" baseline and adjusted baseline credit assessments.

The outlook on the company and its long-term bank deposit rating was stable prior to being withdrawn.

The agency withdrew the ratings for its own business reasons.

As of May 23, Sweden-based Skandinaviska Enskilda Banken AB holds a 100% stake in DSK Hyp, according to S&P Global Market Intelligence data.